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Newt Gingrich's health center files for bankruptcy

Newt Gingrich's health center files for bankruptcy
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POSTED: Thursday, April 5, 2012 - 12:27pm

UPDATED: Thursday, April 5, 2012 - 12:39pm

Newt Gingrich's former health care think tank has filed for chapter 7 bankruptcy.

The Gingrich Group LLC, or Center for Health Transformation, made the filing Wednesday at a U.S. bankruptcy court in Georgia.

Newt Gingrich was chairman until May of last year when he departed to run for president. The majority of Gingrich's net worth is tied up in the Gingrich group.

Since the former house speaker left Congress, the center was the focus of his health initiatives and related consulting activities. The organization has struggled to raise money since Gingrich began his presidential bid.

Former speaker Gingrich also operated sister organizations not involved in the filing - Gingrich Productions and Gingrich Communications.

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